RBL Bank buys 100% stake in Swadhaar FinServe

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RBL Bank has raised its stake in microlender Swadhaar FinServe to 100 per cent to help expand its financial inclusion initiatives.

RBL Bank had earlier held 60.48 per cent stake in Swadhaar, which is an exclusive business correspondent of the lender.

“RBL Bank has brought this additional stake from marquee investors, including global financial inclusion non-profit, Accion,” said RBL Bank in a statement, while declining to disclose the financial details of the acquisition.